21 December 2020
Volex plc
("Volex" or the "Company")
Grant of LTIP Share Options to PDMRs
Volex plc (AIM:VLX), the global supplier of integrated manufacturing services and power products, today announces that certain PDMRs were granted nil-cost options over ordinary shares of 25 pence each in the Company (the "Shares") on 18 December 2020 by the Company's Remuneration Committee under the Company's Long Term Incentive Plan ("LTIP").
FY2021 Long Term Incentive Share Awards
The following options were granted over the Company's Shares:
|
PDMR |
Position |
Number of LTIP Options Granted |
|
Nat Rothschild |
Executive Chairman |
240,000 |
|
Jon Boaden John Molloy |
Chief Financial Officer Chief Operating Officer |
115,000 130,000
|
The LTIP scheme, which replaced the expired Volex Group plc Performance Share Plan 2009 ("PSP"), was formally approved by the board of directors and the Company's shareholders at the AGM held on 30 July 2019. In line with the LTIP rules, these senior management options will vest and become exercisable after three years, subject to performance conditions being met relating to profit and relative total shareholder return ("TSR") targets and to the recipient's continued employment with the Company. The awards are also subject to a maximum 2x multiplier in the event of exceptional performance relating to absolute TSR. The awards also include provisions requiring retention of the shares for an additional period and for clawback of awards in specific circumstances. Exercise of the options may be satisfied by the transfer of new-issue shares, treasury shares or shares purchased for that purpose in the open market by the Company and/or an employee trust.
Following these awards, the Company's PDMRs will hold unvested and/or unexercised options over an aggregate of Shares under the previous PSP (FY2018 and FY2019) and the new LTIP (FY2020 and FY2021) as set out below:
|
PDMR |
Position |
Number of Options |
|
Nat Rothschild |
Executive Chairman |
1,270,000 |
|
Jon Boaden John Molloy |
Chief Financial Officer Chief Operating Officer |
340,000 1,550,000 |
This announcement is made in accordance with the requirements of Article 19 of the EU Market Abuse Regulation No 596/2014.
For further information please contact:
|
Volex plc |
+44 (0)7747 488 785 |
|
Nat Rothschild, Executive Chairman |
|
|
Jon Boaden, Chief Financial Officer |
|
|
N+1 Singer - Nominated Adviser & Joint Broker |
+44 (0)20 7496 3000 |
|
Shaun Dobson |
|
|
Iqra Amin |
|
|
Panmure Gordon - Joint Broker |
+44 (0)20 7886 2500 |
|
Hugh Rich |
|
|
Powerscourt - Media Enquiries |
+44 (0)20 7250 1446 |
|
James White |
|
|
Jack Holden
|
|
NOTIFICATION OF TRANSACTIONS BY DIRECTORS / PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED
|
1 |
Details of the Director / person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
Nat Rothschild |
|
2 |
Reason for the notification |
|
|
a) |
Position/status |
Executive Chairman |
|
b) |
Initial notification / Amendment |
Initial Notification |
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|
|
a) |
Name |
Volex plc |
|
b) |
LEI |
213800HBLQNH5FXXGE63 |
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|
|
a) |
Description of the financial instrument, type of instrument |
Ordinary 25 pence Shares |
|
Identification code |
GB0009390070 |
|
|
b) |
Nature of the transactions |
Grant of LTIP Options |
|
c) |
Price(s) and volume(s) |
Nil - 240,000 |
|
|
|
|
|
d) |
Aggregated information |
|
|
- Aggregated volume |
See 4 c) above |
|
|
- Price |
See 4 c) above |
|
|
e) |
Date of the transactions |
18 December 2020 |
|
f) |
Place of the transactions |
Outside a trading venue |
NOTIFICATION OF TRANSACTIONS BY DIRECTORS / PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED
|
1 |
Details of the Director / person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
Jon Boaden |
|
2 |
Reason for the notification |
|
|
a) |
Position/status |
Chief Financial Officer |
|
b) |
Initial notification / Amendment |
Initial Notification |
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|
|
a) |
Name |
Volex plc |
|
b) |
LEI |
213800HBLQNH5FXXGE63 |
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|
|
a) |
Description of the financial instrument, type of instrument |
Ordinary 25 pence Shares |
|
Identification code |
GB0009390070 |
|
|
b) |
Nature of the transactions |
Grant of LTIP Options |
|
c) |
Price(s) and volume(s) |
Nil - 115,000 |
|
|
|
|
|
d) |
Aggregated information |
|
|
- Aggregated volume |
See 4 c) above |
|
|
- Price |
See 4 c) above |
|
|
e) |
Date of the transactions |
18 December 2020 |
|
f) |
Place of the transactions |
Outside a trading venue |
NOTIFICATION OF TRANSACTIONS BY DIRECTORS / PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED
|
1 |
Details of the Director / person discharging managerial responsibilities / person closely associated |
|
|
a) |
Name |
John Molloy |
|
2 |
Reason for the notification |
|
|
a) |
Position/status |
Chief Operating Officer |
|
b) |
Initial notification / Amendment |
Initial Notification |
|
3 |
Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor |
|
|
a) |
Name |
Volex plc |
|
b) |
LEI |
213800HBLQNH5FXXGE63 |
|
4 |
Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted |
|
|
a) |
Description of the financial instrument, type of instrument |
Ordinary 25 pence Shares |
|
Identification code |
GB0009390070 |
|
|
b) |
Nature of the transactions |
Grant of LTIP Options |
|
c) |
Price(s) and volume(s) |
Nil - 130,000 |
|
|
|
|
|
d) |
Aggregated information |
|
|
- Aggregated volume |
See 4 c) above |
|
|
- Price |
See 4 c) above |
|
|
e) |
Date of the transactions |
18 December 2020 |
|
f) |
Place of the transactions |
Outside a trading venue |